ACC 557 Week 3 DQ2
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Date Created: 11/11/15
ACC 557 Week 3 DQ2 NonCash Compensationquot Please respond to the following Analyze how noncash compensation can be abused by management within a company and the related risks to the longterm stability of the company After considering the potential for problems with this method of employee rewards determine whether the advantages outweigh the disadvantages and justify your position Make a recommendation to CFO of your organization about the least costly method to reward employees of these three indicating how such a system will likely be perceived by employees State your rationale for selecting the method Noncash compensation is a way for employers to save money on their end while giving employees perks and benefits that offset salaries Instead of having to increase salaries employers will offer noncash compensation items such as ex time schedules onsite childcare free or discounted parking casual Fridays gym membership discounts company parties or mentoring programs for career advancement Compensation Today 2009 Advantages include a decrease in household expenses increased work productivity a happier work environment higher job retention and the ability to bargain for top talent when seeking new employees There exists however the potential for problems Such problems could include an abuse of compensation unequal distribution or even worse fraud As an example since there is a casual Friday what one may deem as appropriate might not be office appropriate A woman may wear a provocative dress under the impression that it is okay since she normally wears that on a casual Friday outside of work Likewise a manager might provide the perks to some employees and not to others based on favoritism Last but not least fraud is a possibility For example a person might tell a friend who does not work there to bring his or her child to the daycare facility and the employee would allege paternity Overall the advantages far outweigh the disadvantages Maintaining a happy work environment will always yield positive results Time is money is a saying that has been said around the world If there is one sure way to show employees appreciation the best way to do so at the least costly method is by rewarding employees with time I would not recommend granting vacation days since this would ultimately end up costing us money in the event that we fall behind and have to offer overtime Thus my recommendation to the CFO of my organization would be to lengthen lunch breaks With the increasing demand of quality work employees are opting to work through their lunch According to Arnold Anderson habits such as working through lunch eating at the desk and skipping lunch are discouraged Anderson 2012 First and foremost working through lunch creates a burnout meaning that employees feel drained and overworked close to the end of the day decreasing production levels Secondly skipping lunch or having a light snack could cause weight gain which leads to greater health concerns Last but not least not utilizing a lunch break could potentially contribute to heightened levels of stress Extending lunch breaks encourages employees to relax and use their time to regroup their energy and refocus on the upcoming tasks REFERENCE Anderson A 2012 Why Employees Should Get Away From Their Desks for a Lunch Break Retrieved at httpsmallbusinesschroncomemployeesshouldawaydeskslunchbreak 12083 html
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